Finding talent to fill open positions has become increasingly difficult in today’s competitive job market. But quality job candidates are also often overlooked when credit unions cast a narrow net to fill a position. Focusing solely on experience in the financial and banking industry can exclude potential talent that may be a good fit for your credit union. Here are six strategies that can help credit unions improve their recruitment efforts in today’s challenging labor market:
- Community involvement – As credit unions, you play a vital role in your communities, such as helping local businesses and supporting schools and charitable organizations. Therefore, it makes sense that hiring talent entrenched in the community, such as volunteers or members of local associations, is important in helping you build an “everyone knows your name” environment.
Expand your talent pool by looking for job candidates who have transferrable skills who are also rooted in the community. For example, a community member with customer service experience may be a great match for a teller position. Then, utilize an effective onboarding program that includes training to nurture specific skills needed for the position.
- Tie your mission into the recruitment process – To ensure you find employees who are a good fit for your organization, it’s important that you showcase your mission and purpose throughout the recruitment process. Vet job candidates based upon your mission, rather than just skillset, and seek candidates who understand your targeted audience and their needs. Ensure employees who are involved in the interview process ask questions related to your mission and membership base to get a sense of whether candidates fully understand and support both.
- Job descriptions – Well-written, concise, and inclusive job descriptions can help you attract more candidates. Identify the must-have requirements versus the nice-to-have qualifications and be sure to use inclusive language so candidates from all backgrounds, genders, and prospects with different abilities are encouraged to apply. Job descriptions are also a great place to emphasize your mission and culture.
- Define, then highlight your employee value proposition (EVP) – Help potential candidates better understand why they should choose to work for your credit union and what’s in it for them by defining your EVP. This clear, consistent message illustrates the experience of working for your organization and highlights the unique experience your credit union offers. By sharing the EVP with candidates during the recruitment process, your employees will have an opportunity to share what they like about working for your company, the benefits offered, and the company’s values and culture.
- Get creative with flexibility – Credit unions are competing for talent with companies that are able to offer fully remote or hybrid work arrangements. Though going fully remote isn’t feasible for most credit unions, you can think outside of the box and develop flexible solutions to retain and attract talent.
Consider letting employees work from home one or two days per week to handle administrative work or offer a casual jeans day for a more laid-back atmosphere. If a hybrid schedule isn’t possible, look for creative ways to build in more flexibility for your employees such as by adding additional paid time off, rotating Fridays off if you’re open on Saturdays, or, depending on your branch hours, allowing a 9/80 schedule, in which employees work 80 hours over nine days.
- Offer top-notch benefits packages – For small and mid-sized businesses, offering a benefits package that can compete with larger corporations may feel out of reach. But having a competitive and affordable package can be a game changer. Working with a professional employer organization provides businesses access to Fortune 500-level benefits at affordable prices for you and your employees. PEOs also offer ancillary benefits such as dental, vision, life insurance and retirement plans. Once a competitive benefits package is in place, credit unions should highlight their offerings in job postings and throughout the recruitment process.